Petrom drills for oil and gas in 9,000 wells in 240 blocks, some of which in the Black Sea. The company is focusing on the Black Sea investments, where it has begun drilling a new exploration well together with its partner, US ExxonMobil. It also plans to redevelop seven of its biggest fields, a project set to cost about EUR450 million.
With the abrupt decline in the oil barrel price this year, Petrom’s majority owner, Austria’s OMV, has recently announced it will adjust investment accordingly over the next two to three years. Even Petrom itself announced a revision of its 2015 investment budget.
“As part of the process to optimize its oil field portfolio, OMV Petrom is considering transfer of drilling licenses for about 30 onshore productive fields,” Petrom officials said. The company is also giving up a number of onshore wells no longer in production.
The transfer of the licenses to the interested parties will be done under the Oil Law, after securing the approval of the National Agency for Mineral Resources (NAMR), the company added.
One of the companies interested is Amromco Energy, the third natural gas producer in Romania, which has recently said it was in talks with Petrom over a number of marginal wells.
(English version by Loredana Fratila-Cristescu)